AVIC invested in the CAS-backed industrial internet-of-things satellite operator Commsat's latest round to bring its overall funding to $68.2m.

Commsat, a China-based commercial satellite operator backed by Chinese Academy of Sciences, has secured RMB270m ($38m) of series B funding from investors co-led by aerospace manufacturer Aviation Industry Corporation of China, China Money Network reported yesterday.
Asset management firm Beijing Wealth Capital co-led the round. Aviation Industry Corporation of China participated through an unnamed subsidiary of its venture capital arm Avic Capital.
Founded in 2015, Commsat hopes to build a network of low-orbit satellites to provide high-speed communications…

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
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